The financial circular No. (10) of 2019 outlines the key guidelines to prepare the federal budget draft for the fiscal year 2020. Accordingly, all ministries and federal entities must prepare the draft budget for the fiscal year 2020 according to the provisions of Article (12) of Decree Law No. (8) of 2011, provided that their expenditure estimates are in accordance with the ceiling set by the Cabinet Decision no. (47/2 and 13) of 2013, following a set of agreed procedures.
The financial circular also clarifies medium and long-term financial planning frameworks, in accordance to the set criteria. This aims to achieve sustainable development in financial resources, in accordance to international standards and transparency in financial processes and procedures. This includes a range of actions such as improving internal control, prioritising and optimising the use of financial resources, as well as optimally allocating the funds included in the draft budget, in terms of strategic objectives and organizational units.
For forecasted revenues, government entities should use the forms prepared by the Ministry of Finance and coordinate with the Public Revenue Department to carry the necessary amendments, and provide updates on the revenues forecasts for the fiscal year 2020. The preparation of the federal budget should follow the approved manual and should be in line with the guidelines, rules and instructions available on the Ministry of Finance’s website. The deadline to submit the draft federal budget should be no later than 22/04/2019. The Ministry of Finance will hold training workshops on the draft budget to those concerned at during mid-March 2019, as well as provide all means of support through the call centre.
Financial Circular No. (10) of 2019 concerning the preparation of the federal budget draft for the fiscal year 2020 , according to the Ministry of Finance’s Five-Year Plan (2017-2021)
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